Land for auction 10 Nangavalli Villa, Jalakandapuram, Salem by Indian Overseas Bank

Prospective property buyers are presented with an exceptional opportunity to acquire a robust RCC terraced residential building, spanning an expansive 4267.25 sq ft, strategically located in the sought-after Jalakandapuram area of Salem, Tamil Nadu. Situated within the well-established Salem West registration District, specifically in Nangavalli Village, Mettur Taluk, this property at door no 10/84-1, Subramaniar Koil Street, Vanavasi, offers both space and convenience. Its prime location is further enhanced by clear boundaries, bordered by Easa School to the North and a crucial Panchayat Road to the South, ensuring excellent accessibility. This makes it an ideal choice for families seeking a spacious home or investors looking for a valuable asset in a developing urban hub. The generous land area combined with a solid residential structure provides ample scope for personalization or future appreciation, making it a compelling investment in Salem's dynamic real estate market. The property’s clear title, under Patta No 163/58, adds to its attractiveness, promising a secure acquisition for discerning buyers.

This residential property is available through a SARFAESI Auction conducted by the Indian Overseas Bank, presenting a streamlined acquisition process for new buyers. The auction is set with a competitive Reserve Price of Rs. 4,455,000.00, requiring an Earnest Money Deposit (EMD) of Rs. 445,500.00 to participate. Potential bidders must note the critical dates: the online auction commences on March 20, 2025, at 11:00 AM and concludes the same day at 03:00 PM. Crucially, the deadline for EMD submission and application is March 19, 2025, by 05:00 PM. We strongly advise all interested parties to conduct thorough due diligence, including a physical inspection of the property and a meticulous review of all auction terms and conditions. For any clarifications or assistance with the bidding process, prospective buyers may contact Mr. Jayaprakash V at Mobile No: 8925951350. Understanding the SARFAESI Act provisions and seeking professional guidance can significantly enhance a new buyer's confidence and success in this bank auction.